ETH – Cryptocurrency With Lots Of Expectations And Disappointments
Ethereum it not just a network but a whole platform allowing programmers to develop various decentralized applications.
The altcoin ETH is a currency of the Ethereum network made for smart contracts creation. Ethereum it not just a network but a whole platform allowing programmers to develop various decentralized applications.
The history of Ethereum began in February 2014. Pre-sales of its own cryptocurrency brought its developers about $18 million in 2014, and it is necessary to note that so far none of the buyers remain at a loss.
Users were able to buy 1000 ETH and 2000 ETH (at early stages of pre-sale) for 1 BTC. Later it turned out to be a good capital investment. Collected money in USD helped programmers to develop rough activity (which goals and mission are not really easy to understand so far).
ETH entering the big cryptocurrency exchange market
In the middle of August 2015, ETH made its way onto the cryptocurrency exchanges. Traders liked it immediately and it steadily gained first place with the highest trading volumes on Poloniex.
If we consider the first transactions with inflated price, the trade history of ETH began with active growth. The price chart made a start from 0.022 and at once reached 0.09. Then the there was a downtrend which proceeded till the middle of October2015, when ETH price reached 0.016.
At the end of October, ETH gained another top of 0.040, which was driven by the release of several pieces of good news from Ethereum. But the rise turned to recession soon, and at the beginning of November ETH price was 0.016 again. However, in a week it jumped to 0.031, and those who bought coins on 0.016, practically doubled their capital.
Till the end of 2015, ETH fell from 0.03, having reached 0.018. But ETH began growing again in the beginning of 2016 from the level of 0.022.
ETH price fluctuations caused by disappointments
Frequent falling of the price of ETH are connected with numerous disappointments of buyers. There were a lot of promises from developers but the wallet software with a graphic interface got released much later than expected (for more than a year users had to master management of ETH on the command line). So, a lot of users have thrown away the idea of using this cryptocurrency as they were unable to deal with difficult process of a mining. And for the ordinary user who isn't a programmer, the Ethereum system in general is too confusing.
Ethereum development plans in 2016
Ethereum developers have big plans for the year 2016. The updates that should bring the project to a new level are expected soon.
Now the price of 1 ETH coin costs about $1, and nobody can tell – if that is a lot or a little. Today ETH needs useful decentralized applications created thanks to Ethereum. If they are released – the growth of the price won't keep itself waiting.